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Monday, September 26, 2011

Meet the new boss, same as the old boss

Meet Jens Weidman, the new Bundesbank president: "

"Behind the glass facade of ECB headquarters in Frankfurt, a fierce battle over fundamental beliefs has been smoldering for months. ECB President Jean-Claude Trichet and the majority of his colleagues are willing to rush to the aid of embattled EU finance ministers and to make major purchases of the sovereign bonds of debt-ridden euro-zone countries, such as Greece, Portugal and Italy.

For his part, Weidmann is strictly opposed to these measures. He believes they amount to an unacceptable means of financing states through effectively printing money. In fact, he has come to assume the mantle of the last staunch defender of monetary stability".

1 comment:

Axel Weber, Jürgen Stark, Jens Weidmann. Maybe I'll write someday a book about our particular German species of central banker. The sequel to Lords of Finance — The Great Recession, And The German Bankers Who Broke The Eurozone.